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The first step, said Mike MacDonald, president and CEO, was the introduction in 2011 of a
program that allows customers to obtain shoes from the company’s e-commerce fulfillment center when
the item isn’t in a store.

Later this year, in-store customers will be able to order from other stores, and online
customers can draw from in-store inventories.

“Customer reaction to this new capability has been quite strong,” MacDonald said. “We know we
are making many more customers happy.”

By 2015, the company expects that savings and increased sales from the program will exceed
costs.

The news came during DSW’s fourth-quarter earnings report, during which the retailer beat Wall
Street earnings-per-share estimates for the fourth quarter but said that bad weather hindered
sales.

The company also offered a prediction for its 2014 fiscal year that was below expectations.

“Business was stronger in November and December and weaker in January when some of the weather
hit,” MacDonald said.

Looking ahead for the full year, the company expects sales to grow by 6 to 7 percent, with
comparable store sales to grow in the low-single-digit range.

The company predicts earnings to be between $1.80 and $1.95 per share. Analysts had predicted
$2.09 per share.

The sales news sent shares down. They closed at $38.90, down $1.09, or 2.7 percent.